Plans to develop a ‘supergrid’ of electricity power could help to drive down energy costs, which may be particularly beneficial to heavy industry.
The North Seas Countries’ Offshore Grid Initiative has set out proposals to unite North Europe’s renewable energy sources in a bid to increase the potential of offshore windfarms.
The plans have been welcomed by the European Wind Energy Association (EWEA), which stated the decentralisation of energy provision could help to tackle dependence on fossil fuels and therefore drive down energy costs.
EWEA press officer Paolo Berrino said: "A North Sea grid will connect offshore wind to our electricity supply, enabling Europe to exploit its largest untapped energy source.
"It will connect grids across Northern Europe – allowing trade in electricity between countries and thereby bringing more competition into the market and reducing electricity prices."
Reduced energy bills would be good news for UK manufacturers still feeling the pinch of the recession.
Bulk equipment such as heavy-duty conveyors and en-masse elevators can be expensive to run and any steps to drive down costs will be welcomed across heavy industry.